India, April 15 -- Verizon is in the early stages of a three-year, $10 billion buildout of midband spectrum for its 5G network. The effort will undoubtedly improve the download speeds available to its smartphone customers.

But that's not the only network Verizon is in the process of constructing.

The operator this week announced it's now offering "Hyper Precise Location," or HPL, across roughly 100 major US markets. The offering dramatically improves the accuracy of the operator's location capabilities. With standard GPS signals, Verizon's network can locate phones and other devices within three to nine meters. With HPL, that improves to around 1 centimeter.

Verizon's HPL service relies on several dozen Real Time Kinematics (RTK) refer...